MIRA INFORM REPORT
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Report Date : |
04.01.2007 |
IDENTIFICATION DETAILS
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Name : |
COSMOS
INTERNATIONAL |
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Registered Office : |
9,
Lucky Tower, M G Cross Road No.4, Kandivali (West), Mumbai 400067 |
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Country : |
India
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1998 |
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Legal Form : |
Partnership
Concern with an unlimited liability of the partner |
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Line of Business : |
Indenting
Agents of Chemicals, Solvents, Dyestuff, Dyes Intermediates, Bulk Drugs
Formulations |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 5000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established and reputed concern having satisfactory track. Partners are reported as experienced and
respectable businessmen. Trade
relations are reported as fair.
Business is active. Payments
are usually correct and as per commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
9,
Lucky Toner, M G Cross Road No. 4, Kandivali (West), Mumbai 400067 |
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Tel. No.: |
91-22-28644685/
4694 |
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Fax No.: |
91-22-28011714 |
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Mobile: |
91-9833112116 |
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E-Mail : |
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Area : |
100
Sq.ft |
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Location : |
Rented |
PARTNERS
|
Name : |
Jasmin
Naik |
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Designation : |
Partner
|
|
Age : |
40
Years |
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Qualification : |
Diploma
in Chemical Engineering |
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Experience : |
17
Years |
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|
|
|
Name : |
Jatin
Naik |
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Designation : |
Partner |
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Age : |
40
Years |
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Qualification : |
Diploma
in Chemical Engineering |
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Experience : |
17
Years |
BUSINESS DETAILS
|
Line of Business : |
Indenting
Agents of Chemical Solvent, Dyestuff, Dyes Intermediates, Bulk Drugs Formulations |
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Products : |
Chemical
Solvent, Dyestuff, Dyes Intermediates and Bulk Drugs Formulations |
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Agencies Held : |
1)
Shangai Aminochem Company Limited, China 2)
Quzhou Weirans Pharmaceuticals Company Limited 3)
Pingyuan Yongheng Chemical Company Limited, China |
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Terms : |
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Selling : |
Contract |
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Purchasing : |
Contract |
GENERAL INFORMATION
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Customers : |
End
Users |
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No. of Employees : |
5 |
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Bankers : |
Dena
Bank, M. G. Road, Kandivali (West), Mumbai – 400067 |
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Facilities : |
The
concern do not enjoy any facility from its bankers |
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Banking Relations : |
Satisfactory |
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Sister Concern : |
Cosmos
Pharmachem 9,
Lucky Toner, M G Cross Road No. 4, Kandivali (West), Mumbai 400067 |
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Line of Business: |
Indenting
Agents of Chemical Solvent, Dyestuff, Dyes Intermediates, Bulk Drugs Formulations |
CAPITAL STRUCTURE
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Capital Investment : |
|
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Owned : |
0.300
million |
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Borrowed : |
- |
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Total : |
0.300
million |
FINANCIAL
DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2006 |
31.03.2005 |
|
Commission Income |
|
4.000 |
1.000 |
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES -
1)
Pfizer Limited, Mumbai
2)
Dynamid Industries
Limited, Ahemdabad
3)
Indocolchem Limited,
Ahemdabad
4)
Metrochem Industries
Limited, Ahmedabad
5)
Pan Drugs Limited,
Baroda
CMT REPORT [Corruption, Money laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION ON DESIGNATED PARTY
No
records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or
assets of the subject are derived from criminal conduct or a prohibited
transaction.
4] Record on Financial Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal Records
No available information exist that suggest
that subject or any of its principals have been formally charged or convicted by
a competent governmental authority for any financial crime or under any formal
investigation by a competent government authority for any violation of
anti-corruption laws or international anti-money laundering laws or standard.
8] Affiliation with Government :
No record exists to suggest that any
director or indirect owners, controlling shareholders, director, officer or
employee of the company is a government official or a family member or close
business associate of a Government official.
9] Compensation Package :
Our market survey revealed that the amount
of compensation sought by the subject is fair and reasonable and comparable to
compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.42 |
|
UK
Pound |
1 |
Rs.86.61 |
|
Euro |
1 |
Rs.58.46 |
SCORE
& RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
5 |
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FINANCIAL
CONDITION |
|
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|
--BUSINESS
SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT
LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT
POINTS |
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--BANK
CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT
POINTS |
|
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--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT
ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This
score serves as a reference to assess SC’s credit risk and to set the amount of
credit to be extended. It is calculated from a composite of weighted scores
obtained from each of the major sections of this report. The assessed factors and
their relative weights (as indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses
an extremely sound financial base with the strongest capability for timely
payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses
adequate working capital. No caution needed for credit transaction. It has
above average (strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial
& operational base are regarded healthy. General unfavourable factors will
not cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable
& favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
11-25 |
Ca |
Adverse
factors are apparent. Repayment of interest and principal sums in default or
expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute
credit risk exists. Caution needed to be exercised |
Credit not recommended |
|
NR |
In
view of the lack of information, we have no basis upon which to recommend
credit dealings |
No Rating |
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